|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.25 - 8.40|
|52 Week Range||4.11 - 29.95|
|Beta (5Y Monthly)||0.04|
|PE Ratio (TTM)||48.55|
|Forward Dividend & Yield||0.16 (1.98%)|
|Ex-Dividend Date||Oct 16, 2020|
|1y Target Est||N/A|
Malaysia has inspected and will continue to monitor rubber manufacturing companies after the country's rubber glove production came under U.S. scrutiny for alleged forced labour practices, its Human Resources Ministry said on Saturday. In a statement, the ministry said it had carried out enforcement activities on errant companies, and would continue to monitor and take action against employers failing to adhere to national labour laws and legislation. The ministry was responding to the U.S. Department of Labor's inclusion of Malaysia-made rubber gloves on a list of goods produced by forced labour last month.
Malaysian rubber glove maker Top Glove Corp Bhd, riding a wave of demand generated by the coronavirus outbreak, has hired banks to arrange a Hong Hong listing that could raise at least $1 billion, two sources said. Citigroup, China International Capital Corporation (CICC) and UBS, will manage the listing, said the two sources, who have direct knowledge of the matter but can't be named as the information is not yet public. Another source, also declining to be named as the process is private, said the world's largest glove maker could be more ambitious and look to raise as much as $2 billion.
(Bloomberg) -- Top Glove Corp., the world’s biggest rubber glove maker, is considering raising more than $1 billion from a listing in Hong Kong, according to people with knowledge of the matter.Top Glove, whose shares are traded in Kuala Lumpur and Singapore, is working with advisers on the potential share sale in Hong Kong, said the people, who asked not to be named as the information is private. At $1 billion, Top Glove’s listing would be the biggest ever by a Malaysian company in Hong Kong, according to data compiled by Bloomberg.Deliberations are ongoing and details of the offering including size could increase depending on investor feedback, the people said.The company confirmed that it is evaluating a dual primary listing in Hong Kong, according to an exchange statement Monday, without providing details of the offering.The proposed Hong Kong listing, if it proceeds, “will enable Top Glove to be present in a larger, more active and liquid stock exchange,” the company said in the statement. The listing will also diversify Top Glove’s investor base and provide a larger fundraising platform to support its growth, it said.Top Glove is talking to bankers on how best to list in Hong Kong and the process will take six to nine months, its executive chairman Lim Wee Chai told reporters in a briefing last month. The company still expects “fresh highs” in the coming year after reporting a record net income of 1.29 billion ringgit ($312 million) in its fiscal fourth quarter.Shares of Top Glove have surged more than 460% this year in Malaysia on the back of demand for medical protective gear amid the coronavirus pandemic, outperforming the country’s benchmark index, which has fallen about 4.4% in 2020.(Updates with exchange statement in fourth and fifth paragraphs.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.